Billionaire with Frankford Roots

If you remember the Schwarzman dry goods store at 4446 Frankford Avenue, then this story will be interesting to you. Steven Schwarzman is the Chairman, Co-founder and CEO of the Blackstone Group. He is 63rd on Forbes list of the wealthiest people in the United States and his family owned that dry goods store and he often visited it as a boy.

From the Philadelphia Business Journal:

Blackstone (NYSE:BX) announced Monday that it is making a five-year, $3 million grant to bring a program for promoting entrepreneurship started at the University of Miami to Philadelphia. The grant will pay for Temple University and Philadelphia University to establish LaunchPad centers for promoting entrepreneurship on their campuses and for the University City Science Center to work with the schools to support their student entrepreneurs.

You can read the rest of the story from the Philadelphia Business Journal at this link.